Market Highlights:
Caprolactam is an organic compound with the
molecular formula ((CH2)5CNH). It is a colorless solid and a lactam of caproic
acid. Caprolactam possess irritant properties and is mildly toxic.
Caprolactam is used in various end user industries
such as tire cords, films & coatings, consumer goods, wires & cables,
monomer castings and molding engineered components and others. Growing demand
for caprolactam is due to it is as a raw
material to produce Nylon 6 fibers and Nylon 6 resins coupled with continuing
growth in end use industries are some of the major factors expected to support
the country's caprolactam market during the forecasted period . Moreover,
growing textile industry coupled with favorable government initiatives are
expected to boost the demand for caprolactam in the country during 2016-2022.
Competitive Analysis:
BASF SE, China Petroleum & Chemical
Corporation, China Petrochemical Development Corporation, Honeywell
International Inc., KuibyshevAzot OJSC and DSM dominated the global caprolactam
market share in 2016.
Companies including BASF and DSM are integrated
across numerous stages of the value chain. These companies are engaged in raw
material production, which are consumed for manufacturing caprolactam.
Integration across numerous stages of the value chain results in continuous raw
material supply including ammonia and cyclohexane
Regional
analysis:
The Asia-Pacific caprolactam market is expected to
grow at the CAGR 4.8% due to high production growth rate in the automotive
industry in the region. The report estimates the size of the caprolactam
market, both in terms of volume and value. Asia-Pacific caprolactam market is
estimated to reach USD 10,102 million by 2022. The key driver of the market is
the growing demand from the automotive, electrical & electronics market
China's demand for caprolactam has been growing at
a fast pace in the past decade. In the next decade, both production and demand
will continue to grow. The Chinese economy maintains a high speed growth which
has been stimulated by the consecutive increases of industrial output, import
& export, consumer consumption and capital investment for over two decades.
MRFR analysis China's economic trends, investment environment, industry development,
supply and demand, and industry structure.
End-use analysis:
Textile
yarn was the second largest market in 2016, accounting for over XX% of volume
share in 2016 growing demand for textile yarn for manufacturing apparels,
sportswear, fashion wear and swimwear is expected to have a positive impact on
the industry over the forecast period.
Industrial
yarn was the second largest end-use valued over USD 2.08 billion in 2016.
Besides increasing consumption of industrial yarn for manufacturing cordage,
slings, mechanical rubber goods and geotextiles is expected to result in
increasing requirement of the chemical over forecasted period.
Market Segmentation:
The
global caprolactam market is majorly segmented on the basis of source and
end-use. Based on source of caprolactam the market is segmented into phenol,
toluene and cyclohexane. Similarly, on the basis of end-use the market is
classified into textile yarns, textile stiffeners, film coatings, synthetic
leather, plastics, plasticizers and others.
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